Arlington, Va. - Consumer confidence in the overall economy reached its highest level in nearly three years this month, according to the latest figures released today by the Consumer Electronics Association (CEA).
The CEA Indexes also show consumer confidence in technology reached an all-time high for the month of January and for the sixth consecutive month, consumer confidence in the overall direction of the economy improved.
The CEA Index of Consumer Expectations (ICE) rose one point in January to 175.7. That's the highest the ICE has been since February 2008. The ICE, which measures consumer expectations about the broader economy, is up more than nine points from this time last year.
"The economy continues to improve and individuals are taking note," said Shawn DuBravac, CEA's chief economist and director of research. "With consumer sentiment higher than it has been since early 2008, and six straight months of growth, consumers are feeling better about the economy and their financial futures."
Consumer confidence in technology is the highest it's ever been in the month of January, despite dropping from last month's record high. The CEA Index of Consumer Technology Expectations (ICTE) fell 5.6 points to 88.1 this month. The ICTE, which measures consumer expectations about technology spending, still recorded its highest level ever for the month of January and is up more than four points from this time last year.
"Spending on technology is influenced by regular seasonal purchasing patterns and in December, technology was atop every consumer's holiday wish list," said DuBravac. "While a drop from December to January has happened every year of the index, the record high this January suggests consumers are still showing a willingness to purchase tech."
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